Crocs (NASDAQ:CROX – Get a Rating) was downgraded by StockNews.com equity researchers from a “held” rating to a “sell” rating in a report released Tuesday.
CROX has been the subject of a number of other reports. Piper Sandler lowered her price target on Crocs shares from $120.00 to $90.00 and set an “overweight” rating for the company in a Tuesday, July 26 research note. Robert W. Baird reissued an “outperform” rating and set a $90.00 price target on Crocs stock in a research note on Tuesday, August 2. UBS Group lowered its price target on Crocs shares from $73.00 to $59.00 and set a “neutral” rating for the company in a Friday, July 15 research note. OTR Global downgraded Crocs shares to a “positive” rating in a Tuesday, July 19 research note. Finally, Loop Capital moved Crocs shares from a “hold” rating to a “buy” rating and raised its price target for the stock from $52.42 to $75.00 in a research note. Tuesday, July 5. One analyst rated the stock with a sell rating, three gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.00.
Crocs trading up 3.0%
Shares of Crocs opened at $78.41 on Tuesday. Crocs has a 12-month low of $46.08 and a 12-month high of $183.88. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt ratio of 5.58. The stock has a market capitalization of $4.83 billion, a PE ratio of 8.95, a price-to-earnings growth ratio of 0.51 and a beta of 1.99. The company has a 50-day moving average of $71.10 and a two-hundred-day moving average of $66.22.
Crocs (NASDAQ:CROX – Get Rating) last reported results on Thursday, August 4. The textile maker reported earnings per share (EPS) of $3.24 for the quarter, beating consensus analyst estimates of $2.73 by $0.51. Crocs had a net margin of 19.08% and a return on equity of 202.79%. The company posted revenue of $964.60 million in the quarter, compared to $938.93 million expected by analysts. During the same period last year, the company posted earnings per share of $2.23. The company’s quarterly revenue increased by 50.6% compared to the same quarter last year. On average, research analysts expect Crocs to post an EPS of 10.04 for the current fiscal year.
Insider buying and selling
In other Crocs news, Executive Vice President Shannon Sisler sold 3,164 shares of Crocs in a trade on Thursday, August 25. The shares were sold at an average price of $80.00, for a total value of $253,120.00. Following the transaction, the executive vice president now owns 49,303 shares of the company, valued at approximately $3,944,240. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. In other Crocs news, Executive Vice President Shannon Sisler sold 3,164 shares of Crocs in a trade on Thursday, August 25. The shares were sold at an average price of $80.00, for a total value of $253,120.00. Following the transaction, the executive vice president now owns 49,303 shares of the company, valued at approximately $3,944,240. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, Chairman Michelle Poole sold 7,320 shares of Crocs in a trade on Thursday, August 25. The shares were sold at an average price of $80.26, for a total transaction of $587,503.20. Following completion of the transaction, the President now owns 168,905 shares of the company, valued at approximately $13,556,315.30. The disclosure of this sale can be found here. 2.71% of the shares are held by insiders of the company.
Hedge funds weigh on Crocs
Hedge funds have recently changed their positions in the stock. Private Trust Co. NA acquired a new position in Crocs stock during Q2 worth $195,000. B. Riley Wealth Management Inc. acquired a new position in Crocs stock during Q2 worth $241,000. Verition Fund Management LLC increased its holdings of Crocs stock by 135.7% in Q2. Verition Fund Management LLC now owns 12,962 shares of the textile maker valued at $631,000 after acquiring an additional 7,462 shares last quarter. Redhawk Wealth Advisors Inc. increased its holdings of Crocs shares by 4.8% in Q2. Redhawk Wealth Advisors Inc. now owns 13,465 shares of the textile maker valued at $655,000 after acquiring 614 additional shares last quarter. Finally, Prelude Capital Management LLC increased its stake in Crocs shares by 74.4% during the 2nd quarter. Prelude Capital Management LLC now owns 39,385 shares of the textile maker valued at $1,917,000 after acquiring an additional 16,802 shares last quarter. Institutional investors and hedge funds own 79.96% of the company’s shares.
(Get a rating)
Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets and distributes casual lifestyle footwear and accessories for men, women and children. It offers various footwear products, including clogs, sandals, flip-flops, thongs, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers and sneakers. slippers under the Crocs brand.
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